The South Korean carmaker is as global as its Indian at the same time and that works to its advantage, according to brokerage Axis Capital. “Hyundai India is a fine mix of the qualities of an MNC (multinational corporation) with the execution abilities of a domestic OEM (original equipment manufacturer),” Axis Capital’s Nishit Jalan, Amar Kant Gaur and Pradip Pandey had said in a March 19 note.
On Oct. 22, Hyundai became the first carmaker in more than two decades to drive onto Dalal Street after selling shares in the country’s largest-ever IPO.
Shares of Hyundai closed 3.57% higher at Rs 1,758.70 apiece on the BSE, compared to a 1.4% advance in the benchmark Sensex.
